CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 55,161	$ 39,944		$ 141,437	$ (22,664)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Provision for credit losses	46,058	6,730		42,663	2,684
Originations of loans held for sale				(61,287)	(4,093)
Proceeds from sales and principal collected on loans held for sale				46,993	4,072
Net fair value adjustment and gain on sale of loans held for sale				(659)	(42)
Ending balance	960	13		329	517
Amortization of premiums and discounts on investment securities				3,178	7,565
Depreciation of premises and equipment				7,108	7,063
Amortization of intangible assets	4,251	3,302		9,655	10,705
Amortization of premiums and discounts on debt and deposits				700	30
Net loss on debt extinguishment				835	0
Share-based compensation expense				785	0
Increase in cash surrender value of bank-owned life insurance				(3,198)	(2,130)
Net (gain) loss on sales and calls of investment securities	(155)	0		(4,292)	207,203
Net loss on sale, disposal and write-down of other real estate owned				3,442	1,226
Net loss (gain) on sale and disposal of premises and equipment				100	(856)
Deferred income tax expense				(3,844)	9,418
Amortization of deferred loan fees and costs				9,909	15,428
Amortization of premiums and discounts on purchased loans				(7,959)	(3,327)
Origination, amortization and change in fair value of MSRs, net				1,108	0
Change in fair value of trading securities				(98)	0
Bargain purchase gain	(90,363)	0		(90,363)	0
Changes in:
Interest receivable and other assets				53,598	571
Interest payable and other liabilities				(70,471)	(16,012)
Net cash provided by operating activities				79,669	217,358
Securities available-for-sale:
Purchases			$ (1,600,000)	(561,139)	(2,154,513)
Sales				930,123	1,629,111
Maturities, calls and paydowns				252,179	199,226
Securities held-to-maturity:
Maturities, calls and paydowns				77,720	75,828
Loan originations and principal collections, net				835,542	1,016,794
Purchases of loans				(172,296)	(223,900)
Recoveries of loans charged-off				9,213	13,053
Proceeds from the settlement of bank-owned life insurance				6,748	1,113
Proceeds from sales of other real estate owned				13,303	186
Proceeds from sales of premises and equipment				887	2,621
Purchases of premises and equipment				(3,023)	(3,907)
Proceeds from sale of Federal Home Loan Bank stock				49,873	0
Net cash acquired in Merger				156,890	0
Net cash provided by investing activities				1,596,020	555,612
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in deposits				(232,753)	(189,636)
Repayment of long-term FHLB advances				(1,000,000)	0
Net decrease in bank term funding				0	(750,000)
Repayment of subordinated debt				0	(17,750)
Cash dividends paid				0	(94,992)
Net cash used by financing activities				(1,232,753)	(1,052,378)
Net increase (decrease) in cash and cash equivalents				442,936	(279,408)
Cash and cash equivalents at beginning of period			$ 1,457,569	999,711	1,457,569	$ 1,457,569
Cash and cash equivalents at end of period	$ 1,442,647	$ 1,178,161		1,442,647	1,178,161	$ 999,711
Cash paid during the period for:
Interest paid				148,355	167,462
Income taxes paid, net of refunds				31,243	3,515
Non-cash activities:
Transfer from loans to other real estate owned				0	2,282
Lease liabilities arising from obtaining right-of-use assets				14,415	10,889
Reclassification of liability classified awards to equity				13,643	0
Merger related items:
Stock consideration				265,803	0
Fair value of assets acquired				7,387,493	0
Fair value of liabilities assumed				$ 7,031,327	$ 0

Mechanics Bancorp 10-Q